Revenue more than doubled under Tinubu, but debt, poverty soared — Obi

Abdullateef Fowewe

NDC presidential candidate, Peter Obi, has claimed that Nigeria’s government revenue rose from ₦16.8 trillion in 2022 to ₦35 trillion in 2025 under President Bola Tinubu, an increase of more than 100%.

Obi in a statement on Wednesday warned that the gain has been accompanied by “excessive and imprudent borrowing” and worsening living conditions for Nigerians.

He further noted that the revenue surge was “aided by global and regional geoeconomic and political tensions,” yet public debt has climbed by over ₦100 trillion to around ₦200 trillion.

He wrote, “Exponential increase in revenue with excessive borrowing: Yet more hardship for Nigerians!”

Obi highlighted several negative socio‑economic trends since 2023, saying multidimensional poverty rose from 87 million people to “over 140 million people,” unemployment has increased rapidly, and GDP per capita has fallen from $1,597 in 2023 to $1,223 in 2025.

He asked pointedly, “Where did all the money go?”

The statement called for a “detailed and transparent explanation of what happened to our economy and financial resources since 2023” and demanded an end to what he described as “imprudent, unaccountable, and opaque management of our common patrimony.”